Member Info for pj70

Computer909 i think that will be the biggest sign if they have to do infill to prove up reserves - this would very much be the deciding factor that they cannot get finance without reserves without them stating it. I still hold and am hoping that finance can be secured but normally finance is based on reserves and not resource estimates so will wait and see.

The upgraded DFS is also an interesting decision to do and not sure why as the original DFS was very good. The only thing i can think of is that any potential funding arrangement wanted to see the DFS with fuel at current prices as this will be a big cost due to transport arrangements to port in first 2-3 years and current graphite price.

Still alot in the air at the moment in my personal opinion but thats the risk you get with penny stocks and so far he has ticked most things off except financing which ultimately will be SP mover.

"Updated DFS targeted end-May, alongside ongoing offtake & funding workstreams."

End of May here and on video was by end of Q2!! Lets hope we do get some financing news.

Bizarre the discussion about Eboli being anything to do with BRES share price. For anyone with any clue on Eboli - the Zaire version which this is not has an antidote and is treatable. They effectively but not have done as such as it is never been widespread the Sudan or Bundibugyo version have got adapted versions that are currently in advanced clinical trials. This is why the west is not worried about Eboli even with its high mortality rate but the media just like sensationalising these outbreaks.

Reserved would agree - it was a good RNS but the resources and not reserves maybe a sticking point or not with the funders. Time will tell whether we here of a further drilling campaign across beehive to delineate a reserve. All positive speak though by the company and see what happens between now and end of June.

The JORC which is the upgrade to Beehive will definitely be linked to the funding deal. There is no question. It is just whether there is any deals on the table for the company?

This will move 1-2 days before any funding is released in my opinion as the financiers will always make some money out of the penny stocks as they know the funding deals are worth alot to the market cap. - this is the cynic in me.

Stricheon - Both TUN and BRES awaiting funding news. DO think the funding is baked into the TUN somewhat already but not BRES and that is the one that could see the 100% increase in SP or more. A bit like for those that have been around saw Tungsten West languishing between 10-12p for many months until we shot to 40p in the space of 1-2 months. Can see same with BRES due to the large graphite play in Uganda.

pedro to value this i would suggest on 140k ozs x 4000 (usd gold price) -1200 aisc (will most likely be lower due to higher grade and price of gold higher but just for some reasoning) = 390m usd fcf x multiplier of 4 with a 50% discount for fcf for nicaragua and one mine which over time will diminish with more mines and potentially a second jurisdiction. = $1,56bn / 1.35 = market cap of circa £1.16bn and with 2.98bn shares a sp of circa 39p. or 3 times where we are today.

this is bag of the *** packet calcs but you can use these to get to where you think it could get to with higher gold price, lower or higher aisc, usd value to gbp and increase or decrease in ozs produced.

i am stating that i no longer hold but it is certainly one for 2027 for me that i will re-enter in later 2026 if la india construction setup actually occurs in late 2026.

Thanks Bonkers - not far away me thinks the JORC and hoping we crack the 25-30 year+ mine life which is what will be wanted for the funding. The re-rating on this when funding is announced will be huge - exciting times.

Looks like we have someone selling in at this level and taking some profits

Big bounce today out of the blue after being pushed from 42p to 32p in space of a few days.

The price coming down is more likely to be that until La india is closer to the line MTL will flounder unless DB comes out with something in relation to the P&E for Runo and another operation. Until then we hope that Runo continues to deliver until Q4 which i have some concerns about after the numbers for Q1 (strip ratios etc). The real prize at the end of the day is La India churning out 100k oz + a year and likely higher with extensive drilling campaign in Nic to source up more reserves - until then it is going to be a struggle in my opinion.

Its funny how you can read an AI response. There is no understanding in that paragraph at all and is just a regurgitation of the RNS.

For instance the movement of ships to two regions to diversify revenue income will be stated about the regions but nothing on why or the benefit for GMS in the longer term.

Anyways just my musings but seeing AI as purely a tool at the moment rather than as something that will take millions of jobs.

Very positive that back working in April, average day rates up, EBITDA guidance maintained but struggling to see how they can achieve that so Q2 numbers will be interesting as must be a ramp up of all vessels in second half of this year and the backlog gives the company 3 years of future revenues while growing the company and obtaining more vessels to get to the 200m EBITDA by 2030.

Autumn leaves the real kicker or not will be the production guidance in July for the 26/27 financial year in my opinion and SD will know that.

Paul FG i agree the JORC on its own will not but i can be 99.9% sure as have been involved in funding before for mining that the JORC will be a requirement for any potential funders and that is why it is important as a stepping stone/ bridge to the financing we all want.

Good to see the debt reduction as this is the one thing that has been holding back the share price as nearly every analyst points it out so would be good to get a good year ahead on debt reduction with the elevated oil and gas prices.

There is nothing commercial about this other than they may or may no coat rockets with graphite like they currently use Tungsten eg Hardide - listed AIM company doing this in US and Oxford.

Maybe i am being grumpy this morning but all i want to see with Blencowe is the updated JORC which is obviously delaying the financing, the financing deals and any new offtake arrangements (this might be one) but contracts like the ones already in place.

Anyone know whether this effects Hardide?:

What is the 2027 ‘cliff edge’ and why does it matter?

A primary catalyst for the current accelerated de-risking of supply chains is the US National Defense Authorization Act (NDAA) mandate.

Effective 1 January 2027, US defence procurement rules will prohibit tungsten ‘covered materials’ – including tungsten metal powder, tungsten heavy alloy and relevant components – where the supply chain includes mining, production, refining or processing in ‘covered countries’ such as China, Russia, North Korea or Iran.

Unlike previous restrictions, this mandate requires metallurgical traceability to the mine level. This could render much of the existing global merchant stockpiles non-compliant for US defence applications, forcing a structural decoupling of the Western military-industrial complex from Chinese-linked tungsten supply.

Lth and Lee fair play to you both for being all in as if you get it right like some of the people in GGP that bought in the early days - some of them have made literally millions and they are normal folk that just believed in the story and the mgmt team and have done well and took an educated risk / gamble on the share being a multi bagger.

Genuinely hope that same happens with MTL for you both.

Something has spooked Tungsten West share price this past week though.